Hope Ventures co-invests $350,000 in Saudi-based Glamera

Manama, Feb. 27 (BNA): Hope Ventures, the investment arm of Hope Fund, announced its co-investment in Saudi-based business ‘Glamera’ during the eighth episode of the entrepreneurship-themed reality television show and the region’s 1st private-public investment platform ‘Beban.’

Through Beban, ‘Glamera, an all-in-one SaaS platform that powers and supplies lifestyle service providers, co-founded by Mohamed Hassan and Omar Fathy, fundraised $350,000 from Hope Ventures and Saudi investors Fahad AlRajhi, Chairman of Nabdh investment alongside super angel investor Dr. Khalid Altawil, who is also a Partner in Select Ventures Dubai.

Hope Ventures invests in scalable businesses that are deeply rooted in their commitment to building value with forward-thinking founders who revolutionize their respective sectors.

The firm offers strategic capital to accelerate the growth of its portfolio companies to new markets through its vast resources of private and public partners as well as a regional network of industry-expert mentors.

Hope Ventures’ investment in Glamera reflects its commitment to investing in forward-thinking founders with innovative businesses that solve existing challenges and have plans to grow and expand on a regional level.

GFH Capital has partnered with Beban as the Saudi Country Partner.

Razi Almerbati, CEO of GFH Capital, affirmed the firm’s support of entrepreneurship across the GCC.

"Partnering with Beban, we’re pleased to back the expansion of the program’s third season into the wider region through our support of startups based in Saudi Arabia," he added.

"Entrepreneurship is the engine of economic growth, and GFH Capital is dedicated to supporting initiatives that empower aspiring and innovative founders and business models that can play a role in economic development and diversification in line with the ambitions of governments across the GCC."

Mohamed Hassan, Co-Founder and CEO of Glamera, expressed his pride to have Beban as part of his entrepreneurial journey and affirmed keenness to develop the industry through the support of Hope Venture.

"I am excited about making progress in transforming our industry through the support of our investor,‬ Hope Ventures, Fahad Alrajhi, and Dr. Khalid Altawil. The support we received through the show has been crucial to the success of our fundraising efforts." He added.

"Through the Beban bootcamp, we were trained under industry experts who supported us in developing our business and ensured our readiness to pitch on the show. I would advise any entrepreneur to continue moving forward to apply for the next season."